BonusFinder, an online casinos comparison site, has been keeping up date on the latest developments on the NYC casino bid – so where are we at now?
The New York Community Advisory Committee (CAC) held its second and final public hearings this week from all of New York’s eight casino proposals. They will now decide which one, or up to three, will get the chance to open a blockbuster casino in the heart of the Big Apple.
Each proposal had their cases heard by the CAC as to why they should receive a license. However, the public hearing also allowed critics of each proposal to air their concerns directly to the decision-makers for one last time.
As such, all the public hearings provoked plenty of emotion – and there was even a march through Times Square in support of one of the bids.
Here, we take a look at some of the key points from the final hearings and what proposals might be best placed to get the license.
Jay-Z backed Caesars Palace project was a hearing filled with drama
The Caesars Palace Times Square hearing lasted just under six hours and was very eventful.
It started off with Broadway workers, union members, local residents and small business owners marching through Times Square on the date of their hearing, September 11. They were all showing their support for the proposal by displaying signs saying ‘Yes – Caesars Palace Times Square’ on it.
The $5bn project, which is proposed by SL Green Realty, Caesars Entertainment and Jay-Z’s Roc Nation, would turn 1515 Broadway into a 24/7 casino and entertainment complex. In addition, the proposal will include 992 hotel rooms, a wellness retreat and restaurants by chefs including Daniel Boulud and Gordon Ramsey.
“New York City is the entertainment capital of the world, so the idea of a world class casino here makes perfect sense,” stated Jay-Z before the hearing.
“I’ve always looked at opportunities that can shift culture while uplifting communities, and Caesars Palace Times Square is exactly that.”
When asked why Times Square would make the perfect venue for a casino venue. The award-winning musician added: “Times Square is the heartbeat of New York – a place where millions of people come every year to see Broadway shows, shop, celebrate the New Year and experience the city’s unmatched energy. A casino here doesn’t compete with Times Square – it complements it.”
Supporters of the proposal, alongside Jay-Z, argued it would push Times Square into a new era with more jobs, greater tourism and safer streets.
In addition, the complex has already pledged more than $250m into a community benefits fund which will allow local people to directly benefit.
Furthermore, $80m will be pledged to improve security and safety in the area, whilst there will also be an added Civil Rights Museum and support for small theaters in the area.
However, out of over 500 people who had signed up to speak to the CAC – the majority of the nearly 200 who were able to speak did not support the proposal – they argued that it would take the audience and money away from Broadway, worsen traffic and prey on the vulnerable seniors in the city.
The Broadway League president Jason Laks stated to the committee: “Out of the eight bids, the Caesars Palace project has to be dead last. Asking theaters and theater workers who have built New York City into tourism, to risk their livelihoods for a casino that would come in dead last is a slap in the face.
“We (The Broadway League) represent 100,000 New Yorkers who work in our industry. New York City can do better. The neighborhood deserves better. Please protect Broadway and its workers and vote down this Times Square casino.”
Furthermore, Tony-nominated actress Veanne Cox stood up in the six-hour meeting to address the important sense of community that comes with theater as opposed to casino.
“This is what the theater does, it brings people together for a shared experience,” stated the former ballet dancer. It’s something for the mind, for the heart and for the soul. I don’t know about gambling, but I do know that a casino is about every man for himself.”
However, another prominent theatre voice spoke in support of the bid. Matt Goldman, Co-Founder of Blue Man Group and Executive Director of Town Hall, said the casino would boost ticket sales for theaters.
“More tourism, more gaming folks doing gaming, brings more people to the restaurants and it brings more people to the theater,” argued Mr Goldman.
“It’s just a misnomer that if people are in a casino, they’re not going to go out and eat and take in entertainment. And I also think that the fact of a casino is going to draw so many more people into Times Square that the spillover effect will benefit everyone.”
Manhattan Plaza resident demands only local voices heard in Avenir bid
“Anyone that’s coming up to speak to you directly should be from this neighborhood. If you’re not from this neighborhood, you do not understand and you are really doing a disservice to Hell’s Kitchen, to you and actually to themselves,” Manhattan Plaza resident Steven Fenning told the committee.
This quote comes from a resident of a subsidised housing complex in the area, where the proposed Avenir project will be built. That quote wasn’t exclusive to this proposal, it’s common in all the public hearings for all of the eight casino projects.
It perfectly illustrates the strong feelings that locals have for these projects, both in support and in their opposition.
New Yorkers might want the casino but the majority at these hearings don’t want it on their doorstep. It goes to show the difficulty the New York Community Advisory Committee has in deciding which proposal(s) will get the license.
What happens now?
With all the final public hearings having finished, all eight proposals must patiently wait to hear who will get a license. It’s widely expected that three will be granted approval, that’s partly because each one that’s granted must immediately pay $500m for the license.
Therefore, the city and state government has the power to earn up to $1.5bn in up-front funding; that can be spent on a range of projects, including improving the city’s crumbling subways.
Who are the favorites in the NYC casino bid?
With so many moving parts to each of the licenses, it’s hard to know what projects will get the green light…
Two of the projects – Resorts World New York City and MGM Empire City – are both expansions of existing ‘racinos’ sites. These venues, which are currently used as racetracks with gambling available onsite, have long appeared to be the favorites to get a license.
This is because both can almost guarantee immediate returns in terms of jobs for locals, revenues for the state as the sites are already being used for something similar. So, locals trust their word that they won’t damage their neighborhoods.
That’s something mentioned in the MGM Empire City’s proposal, they stated: “While our total investment of $2.3bn may be smaller than the public promises made by other license candidates, it is important to recognize that our shorter development timeline will result in nearer-term access to valuable tax revenue for the state and faster employment opportunities for the surrounding community.”
The third and final license that looks like it could get the license is the Metropolitan Park proposal that would be developed by Queens Future and Hard Rock International. It’s promising $3.9bn in revenue by year three whilst local officials like Francisco Moya and Donovan Richards have publicly expressed their support for the proposal, these are appointees to the local advisory committee.
However, Democratic State Senator Jessica Ramos opposes that idea due to the fact the proposed site is on a ‘public park.’ If that doesn’t go in their favor then the aforementioned Caesars Palace Times Square proposal might have been able to persuade legislators due to the huge tax revenues it could generate.
The fact it would be in the heart of the tourist and entertainment capital of New York City means far more people are likely to visit. In addition, it’s converting an existing building so it would be open for business quicker than some of the other bids. Yet, as mentioned, with the opposition from the Broadway League – it could certainly be a political nightmare to grant this license and upset so many locals.
When will we find out who gets the NYC casino license?
All proposals, which need to include a proposed tax rate and supplementing materials, must send their final documents to the Gaming Facility Location Board for consideration, who will make their final decision by December 30.
For all of the eight proposals, they must now wait until they find out if they’re one of the lucky few to become one of the first land-casinos based in one of the most popular tourist cities in the world, New York City.
